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According to Jim O’Neill, head of Goldman Sachs’s global economic research, India is the weakest link in the BRIC chain.

It has the lowest productivity scores vis-À-vis other BRIC nations, Brazil, Russia and China.

Though India has vast economic potential, it has fared poorly on one indicator — productivity.

In China, productivity has been fuelled over the years by huge investments in education, technology and health. In stark contrast, in our country larger proportions of investment are being siphoned away because of corruption in all levels of government.

A World Bank report that looks at health projects in India has revealed rampant corruption in implementation of projects, including rigging of bids, bribery, fake NGOs and tampered documents.

Worst of all, the World Bank withheld $2 billions in funds for the health sector after realising that its previous project was plagued by corruption.

With large sections of its population sick or illiterate, India obviously cannot fare well in productivity.

Good governance, sans corruption, is vital if India is to achieve growth in productivity.

P. Senthil S. Durai Vazhavallan

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